Global Travel Lounge managing director Peter Buckell is acquiring two Harvey World Travel agencies.
Buckell’s offer on the shops in the Norwich Old Catton suburb and Wymondham were accepted yesterday and lawyers are now hurrying to complete the paperwork as soon as possible.
However, a proposed joint venture to buy a further five shops with Hays Travel owner John Hays has fallen through after they were given just 24 hours to complete the deal.
Buckell said: “I’m very pleased; the Norwich shop was my original branch that I set up 13 years ago from nothing and it has got a very good and loyal client base.
“We would have liked to have done the Hays deal but we were only given 24 hours to complete it and we didn’t have time to meet John Hays who was in Dubai.
“I can understand the reasoning behind the 24-hour deadline, the longer you prolong these deals then you lose the client business and it concentrated our minds.”
Buckell said following the deal he will be closing one of his own two shops in Norwich and moving its staff to the Old Catton branch.
He said he would be reviewing the future of the remaining HWT staff in both shops, although it is thought only three roles will be retained.
The deal was made just a day after Miles Morgan Travel bought two HWT shops.
The two shops bought were part of a portfolio of 14 which remain up for sale and which could be closed if a buyer cannot be found.
A total of 80 HWT staff have already been made redundant after the chain fell into administration at the beginning of the week.